FONAR Set to Join Russell 3000 and 2000 Indexes
June 25 2020 - 7:00AM
FONAR Corporation (NASDAQ-FONR), The Inventor of MR Scanning™,
reported today that upon the opening of U.S. markets on June 29,
2020, FONAR will, as part of the annual reconstitution of the
Russell Indexes, be joining the broad-market Russell 3000® Index
and the Russell 2000® Index. The Russell 3000 Index is
a market-capitalization-weighted equity index that tracks the
performance of the 3,000 largest U.S.-traded stocks. The Russell
2000 is a subset of the smallest 2000 components.
Raymond V. Damadian, M.D., Founder and Chairman
of FONAR stated, “We believe our inclusion in the Russell indexes
is a major milestone for the Company. It reflects FONAR’s
strong financial performance and increases the Company’s visibility
to investors.”
Timothy Damadian, president and CEO of FONAR, added, "It’s very
satisfying to see the Company, in its effort to create shareholder
value, recognized for consistently improving its operating
performance and financial position over the past decade.”
Russell US Indexes are part of FTSE Russell, a
leading global index provider, and are widely used by investment
managers and institutional investors as the basis for index funds
and as benchmarks for active investment strategies. FTSE Russell
reports that approximately $9 trillion in assets are benchmarked
against Russell US Indexes. For more information on the Russell
3000® and 2000® Indexes and the Russell indexes reconstitution, go
to the “Russell Reconstitution” section on the FTSE Russell
website.
About FTSE Russell
FTSE Russell is a leading global index provider
creating and managing a wide range of indexes, data and analytic
solutions to meet client needs across asset classes, style and
strategies. Covering 98% of the investable market, FTSE Russell
indexes offer a true picture of global markets, combined with the
specialist knowledge gained from developing local benchmarks around
the world.
FTSE Russell index expertise and products are
used extensively by institutional and retail investors globally.
Approximately $16 trillion is currently benchmarked to FTSE Russell
indexes. For over 30 years, leading asset owners, asset managers,
ETF providers and investment banks have chosen FTSE Russell indexes
to benchmark their investment performance and create investment
funds, ETFs, structured products and index based derivatives. FTSE
Russell indexes also provide clients with tools for asset
allocation, investment strategy analysis and risk management.
A core set of universal principles guides FTSE
Russell index design and management: a transparent rules based
methodology is informed by independent committees of leading market
participants. FTSE Russell is focused on index innovation and
customer partnership applying the highest industry standards and
embracing the IOSCO Principles. FTSE Russell is wholly owned by
London Stock Exchange Group.
For more information, visit
www.ftserussell.com
About FONAR
FONAR, the Inventor of MR Scanning™, located in
Melville, NY, was incorporated in 1978, and is the first, oldest
and most experienced MRI company in the industry. FONAR introduced
the world’s first commercial MRI in 1980, and went public in 1981.
FONAR’s signature product is the FONAR UPRIGHT® Multi-Position™ MRI
(also known as the Stand-Up® MRI), the only whole-body MRI that
performs Position™ Imaging (pMRI™) and scans patients in numerous
weight-bearing positions, i.e. standing, sitting, in flexion and
extension, as well as the conventional lie-down position. The FONAR
UPRIGHT® MRI often detects patient problems that other MRI scanners
cannot because they are lie-down and ”weightless” only scanners.
The patient-friendly UPRIGHT® MRI has a near-zero patient
claustrophobic rejection rate. As a FONAR customer states, “If the
patient is claustrophobic in this scanner, they’ll be
claustrophobic in my parking lot.” Approximately 85% of patients
are scanned sitting while watching TV.
FONAR has new works-in-progress technology for
visualizing and quantifying the cerebral hydraulics of the central
nervous system, the flow of cerebrospinal fluid (CSF), which
circulates throughout the brain and vertebral column at the rate of
32 quarts per day. This imaging and quantifying of the dynamics of
this vital life-sustaining physiology of the body’s neurologic
system has been made possible first by FONAR’s introduction of the
MRI and now by this latest works-in-progress method for quantifying
CSF in all the normal positions of the body, particularly in its
upright flow against gravity. Patients with whiplash or other neck
injuries are among those who will benefit from this new
understanding.
FONAR’s substantial list of patents includes
recent patents for its technology enabling full weight-bearing MRI
imaging of all the gravity sensitive regions of the human anatomy,
especially the brain, extremities and spine. It includes its newest
technology for measuring the Upright cerebral hydraulics of the
central nervous system. FONAR’s UPRIGHT® Multi-Position™ MRI is the
only scanner licensed under these patents.
UPRIGHT® and STAND-UP® are registered trademarks
and The Inventor of MR Scanning™, Full Range of Motion™,
Multi-Position™, Upright Radiology™, The Proof is in the Picture™,
True Flow™, pMRI™, Spondylography™, Dynamic™, Spondylometry™, CSP™,
and Landscape™, are trademarks of FONAR Corporation.
This release may include forward-looking
statements from the company that may or may not materialize.
Additional information on factors that could potentially affect the
company's financial results may be found in the company's filings
with the Securities and Exchange Commission.
Contact: Daniel Culver
Director of Communications
E-mail: investor@fonar.com
www.fonar.com
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